Jeff Beard - That is what I thought, but I was asking for clarification as that what it sounded like he was doing, which others picked up on and said the same as you. 

It all sounds very polished and the big $ opportunities are very interesting to me.

The frame on one of my windows (upper duplex) is completely rotted - thinking it needs to be replaced.

I plan on attending, sounds like a great networking mix of professionals/ investors.

Secondly, it sounds like there is no contract atm with the landlord and tenant.

For example, the time of year can be a factor, especially when you couple that with weather in the market. 45-60 days does sound high to me, but could be an indicator that either there aren't a lot of renters in that area or there is an over supply of rental properties for prospective tenants to choose from.

Something doesn't sound right, does the Realtor have a buddy in the bidding? 

@Dustin Cook offers sound advice--I suggest you heed it or prepare to get swindled. 

Hi Amy,  New folks under appreciate the costs to build new vs buying existing foreclosed at 1/2 or less of replacement cost.    

It sounds like you and your wife have a solid plan and her experience in condo management will be helpful.